Silicon Valley Launches $10 Million Seed Fund for African Tech, UN Leaders...

Silicon Valley Launches $10 Million Seed Fund for African Tech, UN Leaders Pledge 80% Broadband Coverage by 2020

by -

Africa Computer learning in Congo - by IRINA new seed capital fund committed to finding and investing in high-potential East African “pre-revenue” startups was launched Wednesday in Kenya.

Bringing to the table years of seasoned experience in Africa’s tech scene, the new Savannah Fund aims to find and invest in early stage, web and mobile startups addressing the Sub-Saharan Africa market, offering in the region of $25,000 to $500,000.

The announcement comes the same week a leading UN information and technology agency stated their intention to deliver broadband to 80% of African citizens by 2020.

The International Telecommunications Union (ITU), with its 193 member states met in South Africa.

In her keynote address, Cape Town’s Minister of Communications said, “In this connected future, all of Africa’s major cities, town and villages will be connected to affordable internet, thereby facilitating the continent’s mass entry into the knowledge and information economy,” said the minister.

She said that the “greatest achievement” would be to help Africa create its own technologies, instead of the continent just being a consumer, reports The Savannah Fund will be an essential tool in making this happen.

(READ about the Savannah Fund in